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Cairo Investment profits up 30% in 6M

Cairo Investment profits up 30% in 6M
Net profit amounted to EGP 148.43 million in the six-month period ended February
CIRA Education
CIRA
-0.57% 12.25 -0.07

Cairo – Mubasher: Cairo Investment and Real Estate Development on Monday revealed it has reported a 30.2% year-on-year growth in consolidated profits for the September-February period of fiscal year 2018/2019.

Net profit amounted to EGP 148.43 million in the six-month period ended February, versus EGP 113.95 million in the same period a year earlier, the company said in a statement to the Egyptian Exchange (EGX).

Revenues surged to EGP 424.09 million at the end of February, versus EGP 320.62 million in the same six-month period the year before.

At the level of standalone business, the company recorded EGP 35.59 million in profits in the same period, versus EGP 27.24 million in the corresponding period a year ago.

It is worth noting that Cairo Investment previously posted a net profit of EGP 62.87 million for the period starting September to November 2018, versus EGP 53.36 million in the same period of 2017.